The Union Cabinet on Friday approved the proposal to move amendments to the Companies Act, 2013, to make easier compliance of requirements and certain other provisions.
The Cabinet meeting was chaired by Prime Minister Narendra Modi, a cabinet communique said.
The Companies (Amendment) Bill, 2016 will be introduced in Parliament, the release added.
The Bill to amend the Act was introduced in the Lok Sabha by the government in March last year, after which it was referred to the Standing Committee on Finance for its opinion.
The panel submitted its report, along with the changes required in the proposed amendments, in December 2016.
--IANS
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